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Strategies & Market Trends : gary smith shorts and longs

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To: backman who wrote (343)	2/4/1999 11:52:00 AM
From: David R. Parker	Read Replies (3) of 430

Am slowly phasing into GBS trades.... Started off last month with a disaster going long AMD right before their earnings...felt a little better about that when I read Gary's article about doing the exact same trade...lesson learned - beware of earnings announcements, unless the date is far enough away to benefit from a speculative run-up and bail before the news. Did well shorting BLS and a few assorted longs...am on my second run at NOBE, last time was a one day winner..bought again on weakness today. Also bought DL at 30.25 today. Sure wish I'd shorted COMS at open this morning. MCD's chart looked good...but I didn't have enough cash to go 1000 shares on a $81 stock. As I phase out of other investments, I'm aiming at going mostly GBS picks...still not as confident with reading the short charts, my mind just seems "hard-wired" to going long. How many positions do most of you hold? I've read that Gary maintains 15-20...but that's mucho bucks with 1000 share blocks. I'm considering trying to keep about 8-10 positions with an average value of about $25k. So I'd only get 500 shares of a $50 stock, 1000 shares of a $25 stock, 250 shares of a $100 stock....or would 4-5 positions with an average of $50 be better? Has anyone experimented along these lines? I appreciate reading everyone's ideas...I read this and Yahoo's board daily.... Regards, David

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